Analyst Research

Report Title Price
Provider: Stock Traders Daily
$20.00
Provider: New Constructs, LLC
$25.00
Provider: MacroRisk Analytics/EconomicInvestor
$25.00
Provider: ValuEngine, Inc.
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Activision Blizzard Inc Announces Transformative Purchase Of Shares From Vivendi SA


Thursday, 25 Jul 2013 11:59pm EDT 

Activision Blizzard Inc announced that it has reached an agreement under which it will acquire from Vivendi approximately 429 million Company shares and certain tax attributes, in exchange for approximately $5.83 billion in cash, or $13.60 per share acquired before taking into account the future benefit from these tax attributes. In a simultaneous transaction, ASAC II LP, an investment vehicle led by Activision Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly, to which they have personally committed $100 million combined, separately will purchase approximately 172 million Company shares from Vivendi for approximately $2.34 billion in cash, or $13.60 per share. Following the completion of the transaction, Activision Blizzard will be an independent company with the majority of shares owned by the public. The Company will be led by Bobby Kotick as Chief Executive Officer and Brian Kelly as Chairman. Vivendi will no longer be the majority shareholder, but will retain a stake of 83 million shares or approximately 12%. ASAC II LP-the investor group which, in addition to Kotick and Kelly, includes Davis Advisors, Leonard Green & Partners, L.P., Tencent, will own a stake of approximately 24.9%. Activision Blizzard will fund the acquisition with the combination of approximately $1.2 billion of domestic cash on hand and approximately $4.6 billion of debt proceeds, net of fees and upfront interest. The transaction is expected to close by the end of September 2013. 

Company Quote

91.77
0.56 +0.61%
20 Oct 2014